Cencora, Inc. $COR Stock: Eagle Rock Investment Company LLC Reduces Holdings

Eagle Rock Investment Company LLC reduced its position in Cencora, Inc. (NYSE:COR) by 38.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,995 shares of the company’s stock after selling 12,635 shares during the quarter. Eagle Rock Investment Company LLC’s holdings in Cencora were worth $6,003,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COR. Deutsche Bank AG purchased a new stake in shares of Cencora during the 2nd quarter worth about $286,673,000. Impact Partnership Wealth LLC acquired a new stake in Cencora during the 1st quarter worth approximately $1,170,000. SEB Asset Management AB purchased a new position in Cencora in the first quarter valued at approximately $134,139,000. Wedge Capital Management L L P NC raised its holdings in Cencora by 31.0% in the second quarter. Wedge Capital Management L L P NC now owns 105,614 shares of the company’s stock valued at $29,887,000 after buying an additional 24,968 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Cencora in the second quarter valued at approximately $841,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Key Stories Impacting Cencora

Here are the key news stories impacting Cencora this week:

• Positive Sentiment: Cencora agreed to acquire the remaining 96% stake in American Oncology Network, building on its existing 4% ownership. The deal would expand Cencora’s support of community oncology practices and strengthen its presence in oncology services. Reuters acquisition article
• Positive Sentiment: Analysts raised their valuation expectations following the announcement. Argus increased its price target to $380 from $340 and maintained a Buy rating, while Baird lifted its target to $375 from $373. These actions suggest analysts see strategic or earnings potential from the expansion. Argus price target article
• Neutral Sentiment: The acquisition is expected to broaden Cencora’s oncology platform, but investors will likely focus on the purchase price, financing, integration requirements and whether the deal produces sufficient returns. Fierce Healthcare acquisition article
• Neutral Sentiment: UBS reduced its price target to $400, although the revised target remains above Cencora’s recent trading level. The mixed analyst actions indicate differing views on valuation and the acquisition’s near-term effect. UBS price target article
• Negative Sentiment: The transaction’s $2.4 billion cost may be weighing on the stock, particularly because the deal adds near-term capital-allocation and execution risk. A shareholder-law-firm announcement regarding an investigation into American Oncology Network could also add uncertainty around the target company, although it does not itself allege wrongdoing by Cencora. Shareholder investigations announcement

Analysts Set New Price Targets

COR has been the subject of several research reports. Leerink Partners boosted their price objective on shares of Cencora from $380.00 to $388.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 7th. Argus increased their price objective on shares of Cencora from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Tuesday. Evercore reissued an “outperform” rating and issued a $350.00 target price (up from $330.00) on shares of Cencora in a research note on Thursday, August 6th. Wall Street Zen upgraded shares of Cencora from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Wells Fargo & Company upped their price target on shares of Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Fourteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $366.31.

Insider Activity at Cencora

In other news, EVP Elizabeth Campbell sold 11,300 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the transaction, the executive vice president directly owned 19,455 shares of the company’s stock, valued at approximately $6,305,754.60. The trade was a 36.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.38% of the company’s stock.

Cencora Price Performance

COR stock opened at $340.43 on Thursday. The firm has a market cap of $64.96 billion, a P/E ratio of 25.29, a price-to-earnings-growth ratio of 1.76 and a beta of 0.58. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93. Cencora, Inc. has a 1 year low of $244.82 and a 1 year high of $377.54. The stock has a 50-day simple moving average of $321.45 and a 200-day simple moving average of $303.77.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, topping the consensus estimate of $4.35 by $0.13. The firm had revenue of $84.75 billion for the quarter, compared to analyst estimates of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%. Cencora’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the company posted $4.00 EPS. On average, equities analysts predict that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were paid a dividend of $0.60 per share. The ex-dividend date was Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. Cencora’s dividend payout ratio (DPR) is currently 17.83%.

Cencora Company Profile

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical sourcing and distribution company. It provides branded, generic and specialty pharmaceuticals, over-the-counter products and related health care supplies to pharmacies, hospitals, health systems, physician practices and other health care providers.

The company also offers services to pharmaceutical and biotechnology manufacturers, including logistics, commercialization support, market access, consulting, clinical trial support and patient assistance programs.